BBC: Could X go bankrupt under Elon Musk?. “For a company he bought for $44bn (£35bn) last year, bankruptcy might sound unthinkable. But it is possible. To understand why, you have to look at how reliant X is on advertising revenue – and why advertisers are not coming back.” Nice overview.
The Guardian: X struggling to win advertisers back after Elon Musk’s profane outburst. “Major advertisers like Disney, IBM and Apple are still withholding ad dollars from Elon Musk’s X two weeks after its owner endorsed an antisemitic tweet and two days after he launched an expletive-laden tirade to describe his feelings about the pull back. Marketing agencies are pulling back from it as well. In response, X has said it plans to attract smaller and medium-sized businesses to prop up its income.”
Reuters: Walmart says it is not advertising on social platform X. “Walmart said on Friday it is not advertising on social media platform X, one of the latest brands to say it has dropped the Elon Musk-owned site. ‘We aren’t advertising on X as we’ve found other platforms to better reach our customers,’ a Walmart spokesperson said.”
CNN: Major brands are not only pausing ads on Elon Musk’s X. They’re stepping away from the platform altogether
CNN: Major brands are not only pausing ads on Elon Musk’s X. They’re stepping away from the platform altogether. “The blackout on X extends beyond these companies’ corporate accounts, in some cases. For instance, the most high profile accounts affiliated with Disney have gone dark on X, such as @StarWars, @Pixar, and @MarvelStudios, which were previously posting multiple times a day on the platform to their millions of followers. Instead, these brands have switched over to the Meta-owned rival Threads, where they have started actively posting.”
The Atlantic: Substack Has a Nazi Problem. “The newsletter-hosting site Substack advertises itself as the last, best hope for civility on the internet—and aspires to a bigger role in politics in 2024. But just beneath the surface, the platform has become a home and propagator of white supremacy and anti-Semitism. Substack has not only been hosting writers who post overtly Nazi rhetoric on the platform; it profits from many of them.”
The Conversation: Queer archives preserve activist history and provide strategies to counter hate . “Since 2020, I have been helping to build a 2SLGBTQ+ Community Archive in Hamilton, Ont. My students and I are often amazed at just how long 2SLGBTQ+ communities have been resisting very similar kinds of backlash, hate and violence to what we’re seeing today. Anyone concerned about 2SLGBTQ+ struggles today can learn from the history of resistance and activism preserved in these archives.”
The Guardian: X sues watchdog group Media Matters after report on ads next to Nazi posts. “Social media platform X on Monday sued media watchdog group Media Matters, alleging the organization defamed the platform after it published a report that said ads for major brands had appeared next to posts touting Nazism.”